New Delhi, May 15 (IANS) The Income Tax Department on Friday said that it enabled the filing of Income Tax Returns (ITRs) for the financial year 2025-26 (assessment year 2026-27) with the release of Excel utilities for ITR-1 and ITR-4 forms on e-filing portal.Announcing the update on social media platform X, the department said taxpayers can now access both the Excel utility and online filing options for the two forms.With the announcement of the offline utilities, the ITR filing process for AY …
Latest CBDT News & Updates
New Delhi, May 9 (IANS) The Central Board of Direct Taxes is stepping up efforts to recover Rs 2.57 lakh crore in confirmed tax demands in the current fiscal year, a report has said.Under the enforcement drive, special teams will track the top 10,000 high‑value arrear cases nationwide in FY27, the tax department officials told NDTV Profit.Tax recovery and compliance monitoring will see a technology-driven push from artificial intelligence, data analytics and digital forensics, they said.The CB…
New Delhi, May 4 (IANS) India’s net direct tax collections recorded steady growth in the financial year 2025–26, rising 5.12 per cent year-on-year to Rs 23,40,406 crore, according to data released by the Central Board of Direct Taxes (CBDT) on Monday.Gross direct tax collections for the fiscal stood at Rs 28,11,936 crore, registering a 4.03 per cent increase compared to Rs 27,03,107 crore in FY25.The rise was supported by higher inflows from both corporate and non-corporate tax segments, ref…
New Delhi, April 2 (IANS) The Income Tax Department on Thursday launched a new website called ‘Kar Saathi’, aimed at making tax-related processes simpler and more user-friendly. The department said the platform brings all direct tax information under one roof and is designed to be easier to navigate and faster to use.Announcing the launch on X, Income Tax India shared that the new website will help taxpayers access all information in one place while introducing ‘Kar Saathi’, an AI-powere…
New Delhi, April 1 (IANS) The Central Board of Direct Taxes (CBDT) has amended income tax rules to provide clarity on the applicability of General Anti-Avoidance Rules (GAAR), in a move aimed at reducing ambiguity around tax avoidance provisions.In its notification, the CBDT said that GAAR will not apply to income arising from the transfer of investments made before April 1, 2017. The amendment will come into effect from April 1, 2026.The clarification is expected to provide certainty to investo…
New Delhi, March 31 (IANS) The Central Board of Direct Taxes (CBDT) has entered into a record 219 Advance Pricing Agreements (APAs) in FY 2025-26 with Indian taxpayers, taking the total number past the 1,000 mark to an aggregate of 1,034 APAs since the inception of the programme, according to an official statement issued on Tuesday.The figure comprises 750 unilateral APAs (UAPAs) and 284 bilateral APAs (BAPAs).The BAPAs were signed pursuant to entering into mutual agreements with 13 of India’s…
New Delhi, March 20 (IANS) The government on Friday notified the Income-tax Rules, 2026, setting the stage for the rollout of the new Income-tax Act, 2025 from April 1, 2026, with a sharper focus on transparency, stricter disclosures and improved compliance.The Central Board of Direct Taxes (CBDT) has published the Income-tax Rules, 2026 in the e-Gazette, replacing earlier provisions and laying down a detailed framework for the upcoming financial year 2026-27.The new rules aim to simplify proced…
New Delhi, Feb 5 (IANS) The Central Board of Direct Taxes (CBDT) Chairman, Ravi Agrawal, has said that new income tax forms, implementing rules and a detailed set of frequently asked questions (FAQs) will be published soon this month to prepare taxpayers transition to the new Income Tax Act, 2025, which takes effect on April 1.Agrawal said that explanatory presentations will be done along with FAQs to help manage an expected surge in queries during the initial implementation quarter from April t…
New Delhi, Feb 1 (IANS) The Cabinet on Sunday approved the Union Budget 2026-27 during a meeting in Parliament chaired by Prime Minister Narendra Modi.A meeting of the Union Cabinet was held at Sansad Bhawan at 10 a.m., and after the Cabinet’s approval, Finance Minister Nirmala Sitharaman proceeded to Parliament to present the Budget.Earlier, FM Sitharaman met President Droupadi Murmu and offered her a copy of the digital budget.The President also offered ‘dahi-cheeni’ (curd and sugar) to Sith…
New Delhi, Dec 23 (IANS) The Central Board of Direct Taxes (CBDT) has launched a “Nudge” campaign for the 2025–26 assessment year on Tuesday, asking taxpayers to voluntarily review and correct deduction or exemption claims identified as potentially ineligible through the Income Tax Department’s advanced data analytics. Some of these claims, which have been filed in the income tax returns (ITRs), involve cases of bogus donations to Registered Unrecognised Political Parties (RUPPs), accord…